As background, on December 3, 2024, a federal district court in Texas issued an injunction stating that the BOI reporting rule could not be enforced, and reporting companies need not comply with the January 1, 2025, BOI reporting deadline pending a further order from the court. The Department of Justice (DOJ) appealed the injunction, and on December 23rd, a panel of the U.S. Court of Appeals for the Fifth Circuit granted the DOJ motion to lift the injunction. After this ruling, FinCEN announced that, for reporting companies that had been required to supply BOI information by January 1, 2025, their new filing deadline was January 13, 2025.
Considering the reinstatement of the injunction on December 26th, companies no longer need to comply with the January 13th due date pending further notice from the federal appeals court.
We are monitoring this situation for you and will provide a final resolution once it has been issued. Please reach out to us if you have any questions or concerns in the meantime.
